Pipavav Defence to supply offshore patrol vessels

Pipavav Defence and Offshore Engineering today said it had bagged an order to build two offshore patrol vessels "for a West African Client", without disclosing the identity of the client, in its regulatory filing with the eschanges.

The statement said, "The contract value is pegged at Rs1,192 crores with two option ships which can be exercised by the client within 24 months upon which the contract value may go up to Rs. 2,504 crores."

Both the vessels are to be delivered in 32 months including option ships, if exercised, the company said.

With this order, the company's current order book size swells by 20 per cent, it added.

The vessels are 95 meter long and similar to five vessels for which the ministry of defence has placed orders with Pipavav Defence and Offshore Engineering last year.

This is the first international major naval segment (foreign military sales) contract.

The statement also added, the company was negotiating for four corvette type warships with a global major.

''One of the thrust areas of the company is to focus on foreign military sales to the friendly countries,'' the company said.